All Forum Posts by: Royce J.

I need your help.

I sold some stock in April 2017 with huge capitol gains and in July 2017 purchased 2 apartment buildings in Las Vegas opportunity zones.

Would I be able to amend my 2017 taxes and take advantage of the Tax Cuts and Jobs Act of December 22, 2017 even though my transactions were before December 22, 2017?

Thanks

I need your help. 

I sold some stock in April 2017 with huge capitol gains and in July 2017 purchased 2 apartment buildings in opportunity zones.

Would I be able to amend my 2017 taxes and take advantage of the Tax Cuts and Jobs Act of December 22, 2017 even though my transactions were before December 22, 2017?

Thanks

@Myles Cardenas It's the cost of doing business. If don't buy any property you are not moving forward.

Awesome thread. I've added to the subletting section no AIRBNB, Vacation Rental, or Peerspace. 

In Los Angeles I had a tenant rent their unit on AIRBNB and the visitors were taking my other tenants mail/packages. Plus the other tenants felt unsafe with random people walking around the property.

I recommend you house hack your first place.  Find a large duplex for your family.  Do not buy a house.

Banks want 2 years tax returns and bank statements. Google the scotsmanguide you can check out which loan programs are out there for your situation. 

Good luck.

Royce

If you create a cool space you can rent it on PeerSpace by the hour.  You can download the app on your phone.  

Good luck.

I like Brysys. The name can be anything. look at all of the super successful companies website names.

UBER, Hertz, Zappos...etc.

Read NealPatel's blog if you want drive traffic to your site.

Good Luck.

Don't sell. It's a keeper.

Step back and pretend you were buying a fix and flip or a BRRR. This would be a killer deal!

It's like buying a 5plex for $500K and the ARV is $1.8M.

Timeline: 1 year.

1. I would get a Hard Money loan to buy out your family member. offer them $400K

2. Move all the tenants out with cash-for-keys; or pay to relocate tenants. Or do one unit at a time.

3. Spend $50-75K per unit.

4. Rent the units for maximum $.

5. Refinance and pay Hard Money loan back.

6. Cash flow and retire in the islands.

Good luck.

Refinance to a 30 year, 6% fixed rate to lower your mortgage payments to $630. Then raise the rents every year a few dollars.

Good luck.